Principled utility discounting under risk

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dc.contributor.authorMintz-Woo, Kian
dc.contributor.funderAustrian Science Funden
dc.date.accessioned2020-09-01T09:17:04Z
dc.date.available2020-09-01T09:17:04Z
dc.date.issued2019-05-02
dc.date.updated2020-08-26T15:53:01Z
dc.description.abstractUtility discounting in intertemporal economic modelling has been viewed as problematic, both for descriptive and normative reasons. However, positive utility discount rates can be defended normatively; in particular, it is rational for future utility to be discounted to take into account model-independent outcomes when decision-making under risk. The resultant values will tend to be smaller than descriptive rates under most probability assignments. This also allows us to address some objections that intertemporal considerations will be overdemanding. A principle for utility discount rates is suggested which is rooted in probability discounting. Utility discounting is defended against objections from Parfit (1984) and Broome (2005); Broome (2012). A sample utility discount rate is estimated.en
dc.description.sponsorshipAustrian Science Foundation (FWF, under research grant W 1256-G15 (Doctoral Programme Climate Change—Uncertainties,Thresholds and Coping Strategies))en
dc.description.statusPeer revieweden
dc.description.versionPublished Versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationMintz-Woo, K. (2019) 'Principled Utility Discounting under Risk', Moral Philosophy And Politics, 6 (1), pp. 89-112. doi: 10.1515/mopp-2018-0060en
dc.identifier.doi10.1515/mopp-2018-0060en
dc.identifier.endpage112en
dc.identifier.issn2194-5616
dc.identifier.issued1en
dc.identifier.journaltitleMoral Philosophy and Politicsen
dc.identifier.startpage89en
dc.identifier.urihttps://hdl.handle.net/10468/10423
dc.identifier.volume6en
dc.language.isoenen
dc.publisherDe Gruyteren
dc.relation.urihttps://doi.org/10.1515/mopp-2018-0060
dc.rights© 2019 Mintz-Woo, published by De Gruyter. This work is licensed under the Creative Commons Attribution 4.0 Public License.en
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/en
dc.subjectClimate changeen
dc.subjectDecision-making under risken
dc.subjectDiscounted utilitarianismen
dc.subjectInternational justiceen
dc.subjectOverdemandingnessen
dc.subjectUtility discount rateen
dc.titlePrincipled utility discounting under risken
dc.typeArticle (peer-reviewed)en
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